Recent Employment Data for the US

Despite talks about economic improvement, unemployment figures are still rising in the USA. This tendency might undermine the Democrats reputation.

Although economic deterioration is believed to decompress, the unemplyment rate is anticipated to rise and exceed 10% during the year of 2009. Growth of poverty and insufficient economic improvement could provide even more ground for blaming the president and parliamentarian Democrats for abuse of public money. If the development continues, the government which has been justifying its expenditure by the attempts to produce new working places and improve the economic instability, will endure tough times, especially during the midterm elections of November 2010.
The economic policy of The president supposes investing 787 bln dollars in renewable energy, healthcare, education and vocational training. The government contends that this measure will help to stabilize the thriftiness and create jobs. This optimistic vision, however, is not shared by financial professionals. By their estimates, the unemployment will exceed 10% in 2010, and its return to the pre-crisis level (about 5%) can be anticipated not sooner than in few years. The expected development of the employment situation is going to severely affect children, unskilled workers, immigrants, African and Latin Americans.

Lawrence Mishel, president of the Economic Policy Institute, is reported to allege that the rate of structural unemployment will entail tremendous damage to many communities and verbalized his surprise with the passive position of American people. According to statistics, since December 2007 the quantity of jobs in the U.S. Has reduced by virtually 5.7 mln. Although recent months demonstrated a slight improvement of the employment situation and increase of expenditure, the development remains unchanged, and the number of jobs still is getting reduced.
Making things worse, American companies take pains to re-employ workers and present know hows into production, thus making their employees redundant. Moreover, the economic deterioration virtually ruined the economic sector and the auto industry. Even government intervention is ineffective to restore nany of the jobs in these sectors.
"The rate of unemployment has not reached its acme, it will last lots longer," alleges Mishel. The political debate appears to suggest that the deterioration is over, but we still need to discuss ways out of the actual crisis, i.e. to recreate jobs."

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